Issues
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◆ UK lender takes £500m ◆ Deal land single digits back of recent supply ◆ No-grow size supported demand -
◆ Bank markets NC5 and NC10 dual trancher with a flat curve ◆ Deal follows another long dated dollar AT1 from BNP Paribas ◆ More EM dollar AT1s in the pipe
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Turkish issuers continue to pay little or no new issue premiums
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Public markets have proven to be often just as illiquid, leading to a convergence in approach
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◆ Kommuninvest spread surprises bankers ◆ KommuneKredit takes twice covered book ◆ ‘A tough one at the moment’ for euros
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Equity capital markets agreement has worked well for CA in Europe
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◆ Deal comes close to yields on Italian govvies ◆ Tight level puts off some investors ◆ More Italian issuance due
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Borrower buoyed by rarity and recent ratings upgrade in €650m trade
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◆ BNP Paribas reopens most subordinated issuance in dollars ◆ Bank of Ireland goes for eyewateringly tight new deal and tender ◆ Alpha Bank tightens 50bp
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◆ Borrower's first deal of its new fiscal year ◆ CBA opts for size ◆ Market receptive to 'off the run' tenor
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Cocobod makes plans to be less reliant on annual syndicated facility
